5 years of royalty checks not paid out to me and my sister and brother. we are expecting a “fat” check soon. we were not considered proper heirs. can we expect an added Interest amount/% ? such as 3% or 9% or even higher OR do we need to realize that oil company was not at fault primarily so they don’t need to add Interest ?
The rules depend upon which state your minerals are in.
Generally, a probate court’s order resolves issues regarding who is entitled to inherit.
yes quite true. a heirship was used by my cousin which was vulnerable to be misunderstood and it was especially since my dad’s wife disclaimed and then oil company was bought out and and well never mind so yet anyways new oil co. suspends us and wants a probate done but then it has backed off that…and we are supplying a new heirship and a new disclaimer THEN we get our “fat” check…will they include a interest late add-on tho ?
You haven’t mentioned the state. For example, Oklahoma has a provision for interest but don’t assume that the companies will send it. You usually have to remind them.
north dakota. indeed i will be asking them about such a possibility. tho they are not at fault for the non payments of royalties primarily. they may have plenty of wiggle room to opt out or they may just be reasonable.